To new endeavors...

Well kids, I’m back. I have been very busy getting things set up for my new endeavor which I mentioned in a previous post. If you know me, this probably isn’t news. If you don’t know me it is. The last two or three months have been consumed with research and work regarding me starting my own hedge fund. I am in the process of proving out my system using historical data before organizing formally the offering memoranda. My system will be technical based and that is as much as I can give. I plan on calling the fund CL Capital Holdings. I have started a management company, Brian P Egan Management, to serve as advisor to the fund. I’ll keep you up-to-date as I see fit.

As for open positions, I currently have two, KRY (which was opened around $2.80) and SNDK (opened just two days ago at $46.50). I have a very tight (5%) trailing stop on the SNDK trade. I’m not terribly sure of that one, but I love the stock’s tendency to trend. I may guess the direction wrong but I’d bet money its not within 10% a month from now. As for KRY, you know my position on them. They get the permits and Goldcorp-Glamis will be knocking down the door with an offer somewhere between $10 and $14. KRY has a monster holding in Venezuela. To me it seems like an issue of timing, when, not if.

Not much else to report. I will discuss my plans for my fund in the future as I see fit.